First Trust Advisors LP Acquires 3,349,779 Shares of UWM Holdings Co. (NYSE:UWMC)

First Trust Advisors LP raised its holdings in shares of UWM Holdings Co. (NYSE:UWMC - Free Report) by 886.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,727,477 shares of the company's stock after purchasing an additional 3,349,779 shares during the quarter. First Trust Advisors LP owned 0.23% of UWM worth $21,880,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in UWM by 37.6% during the fourth quarter. Vanguard Group Inc. now owns 11,764,910 shares of the company's stock worth $69,060,000 after buying an additional 3,212,081 shares during the period. Geode Capital Management LLC boosted its stake in shares of UWM by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,546,818 shares of the company's stock worth $13,183,000 after purchasing an additional 41,206 shares during the period. Bank of New York Mellon Corp grew its holdings in UWM by 15.7% during the 4th quarter. Bank of New York Mellon Corp now owns 1,087,978 shares of the company's stock valued at $6,386,000 after purchasing an additional 147,459 shares during the last quarter. Bank of Nova Scotia raised its position in UWM by 51.0% in the 4th quarter. Bank of Nova Scotia now owns 621,392 shares of the company's stock worth $3,648,000 after purchasing an additional 209,903 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in UWM by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 580,547 shares of the company's stock worth $3,408,000 after purchasing an additional 6,257 shares during the last quarter. 53.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UWMC has been the topic of a number of analyst reports. UBS Group raised UWM from a "sell" rating to a "neutral" rating and cut their target price for the company from $4.75 to $4.50 in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods upgraded UWM from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $6.50 to $7.50 in a research note on Monday, March 3rd. Finally, Wedbush reiterated a "neutral" rating and set a $6.50 target price on shares of UWM in a research report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.21.

UWM Price Performance

UWMC opened at $4.45 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.06. The business's fifty day simple moving average is $5.53 and its 200-day simple moving average is $6.00. The company has a market capitalization of $7.10 billion, a price-to-earnings ratio of -19.33 and a beta of 1.64. UWM Holdings Co. has a 12-month low of $4.15 and a 12-month high of $9.74.

UWM (NYSE:UWMC - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The business had revenue of $560.21 million for the quarter, compared to analyst estimates of $645.75 million. On average, equities research analysts anticipate that UWM Holdings Co. will post 0.2 earnings per share for the current fiscal year.

UWM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a yield of 9.00%. UWM's dividend payout ratio is currently 500.00%.

UWM Company Profile

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.

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